Brussels – The European Investment Fund (EIF), part of the European Investment Bank Group, has partnered with Komerční banka to enable the Czech lender to provide up to €280 million in fresh financing to micro, small, and medium-sized enterprises (SMEs) in Czechia and Slovakia. The agreement, made possible with the support of the InvestEU program, aims to promote inclusive growth by supporting investment in sustainability, innovation, skills, and culture.
The EIF will provide a portfolio guarantee to Komerční banka, ensuring favorable lending terms for SMEs in the region. The financing will contribute to investment in innovation, digitalization, sustainability, social entrepreneurship, skills development, education, and the culture and creative arts sectors, thereby fostering entrepreneurship and economic growth.
The InvestEU program, which seeks to mobilize over €372 billion in additional investment for EU policy priorities from 2021 to 2027, has played a crucial role in facilitating this partnership. Approximately 6,500 companies in Czechia and Slovakia are expected to benefit from this operation, reinforcing competitiveness, job creation, and progress towards a more innovative, sustainable, and resilient economy.
European Commissioner for Economy Paolo Gentiloni expressed satisfaction with the agreements, stating, “Access to finance is vital for small and mid-caps to make a significant impact in areas such as digitalization, sustainability, education, and the cultural sector. I am delighted that, thanks to these two agreements, 6,500 businesses in Czechia and Slovakia will receive the support they need, fostering competitiveness, job creation, and accelerating progress towards a more innovative, sustainable, green, and resilient economy.”
Marjut Falkstedt, CEO of EIF, emphasized the importance of supporting access to finance, particularly during challenging economic conditions. Falkstedt stated, “This operation is a great example of how the EIF can leverage EU resources to help small and micro businesses, the backbone of the European as well as the Czech and Slovak economy, through this challenging period.”
This latest agreement builds upon previous successful partnerships between EIF and Komerční banka, focusing on sustainability, innovation, employment, and the culture and creative sectors. It will also allow Komerční banka to expand its debt financing offerings for micro-enterprises and introduce a new product aimed at supporting social enterprises.
The EIF and Komerční banka collaboration underscores the commitment to supporting SMEs and fostering economic growth in the region. By providing favorable access to finance, the partnership aims to facilitate the development of these vital businesses, contributing to the overall resilience and prosperity of Czechia and Slovakia.
https://ec.europa.eu/commission/presscorner/detail/en/IP_23_3423